Sir Andrew Witty, CEO of GlaxoSmithKline, one of the world’s leading research-based pharmaceutical and healthcare companies, advocates for drug pricing transparency in a video interview with Cristina Alesci of CNNMoney.
Opening the discussion, Alesci points out how the presidential candidates are openly talking about drug pricing.
Alesci: “What do you think this means for your industry, especially because the U.S., as you said, is your biggest market? That [drug pricing] is all we hear about these days, from Donald Trump, to Hillary Clinton, to Bernie Sanders—they’re all talking about how the price of drugs has to come down.”
Witty: “… The issue, as much as anything, is the cost of healthcare, not just the cost of drugs. Remember, drugs are probably 10-15 percent of the total healthcare bill, but healthcare is 17 percent of U.S. GDP.”
Watch the video below to hear more of their conversation.
Video caption: Sir Andrew Witty tells CNNMoney’s Cristina Alesci about the challenges surrounding the pharmaceutical space and why we need more drug pricing transparency in the U.S.